Gensol Engineering, AZAD Engineering and Premier Energies to see some action today

04 Nov 2024 Evaluate

Gensol Engineering has secured a large turnkey EPC order from a leading public sector utility in Maharashtra. The project involves the development of a 150 MWac ground-mounted solar PV power plant, with a total contract value of Rs 780 crore, is set to be executed over a 15-month period.

AZAD Engineering has signed Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries, Japan (MHI) for supply of highly engineered & complex rotating and stationary Airfoils for Advanced Gas & Thermal power turbine engines to meet their global demand in the power generation industry. This current Phase of contract, valued at $82.89 Million (Rs 700 crore) is a robust step towards cementing company’s everlasting strategic relationship with Mitsubishi Heavy Industries, Japan (MHI).

Premier Energies’ subsidiaries -- Premier Energies International & Premier Energies Photovoltaic have received and accepted multiple orders aggregating to Rs 560.00 crore from 2 large Independent Power Producer (IPP) and others. These orders include Rs 513.00 crore for Solar Modules and Rs 47.00 crore for Solar Cells. The supply of these modules is scheduled to commence from December 2024.

Canara Bank is aiming to recover about Rs 6,000 crore from bad loans during the second half of the current fiscal (H2 FY25). The company is anticipating recovery somewhere about Rs 3,000 crore in the third quarter and a similar amount in the fourth quarter. The bank has recovered Rs 2,905 crore, including recovery in written-off accounts, in the second quarter.

Karur Vysya Bank has strengthened its retail footprint in Tamil Nadu and Karnataka with the inauguration of four new branches in the two states. The Karur-based bank has opened a new branch in Bengaluru followed by the inauguration of three new branches each in Kanyakumari, Chennai and in Tirupur districts. With the launch of the new branches, the total network of Karur Vysya Bank increased to 848.

Punjab & Sind Bank has launched e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services (NeSL) that replaces the paper-based BG issuance process with e-stamping and e-signatures. With the secured transmission and enhanced transparency, beneficiaries will save efforts and time in the verification of physical BGs.

GR Infraprojects, MSRDC Pune Ring Road (MPRRL) and Maharashtra State Road Development Corporation (MSRDC) have executed Engineering, Procurement and Construction (EPC) Agreement for project ‘Construction of Access Controlled Pune Ring Road in Pune District Package PRR W5 from village Kalyan/Rathwade Km. 55+500 to village Shivare/Kusgaon Phase Km. 64+841 (Length - 9.341 Km.) Tq. Haveli / Bhor in the State of Maharashtra on EPC Mode’. The Bid project cost is Rs 1,885.63 crore.

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